Last night I was sitting in my recliner reading Christmas stories to my twin five-year-olds before bedtime. Archer picked How the Grinch Stole Christmas. When we got to the part where the Whos start singing, even though all their presents had been stolen, I stopped to explain it to the boys:
Anyone who has taken a business course has seen the business cycle chart. A perfect sine curve with expansion, peak, recession, trough and recovery all neatly taking their turns in perpetuity. The whole thing is such common knowledge we don't even question it. I'm going to make the case that thinking about the economy or stock market as a cycle is not only wrong, it is dangerous to your financial future.
This time of year our thoughts turn to spring, getting outside with family, opening day of baseball and... taxes. Okay you probably don't want to think about taxes but that can be a costly mistake. Most people's last possible tax deduction is the IRA contribution. But will the tax savings of a deduction today outweigh tax free growth of a Roth IRA tomorrow?
Every year I prepare a net worth statement for my family. I like to use January 1st as the date each year because it makes for easy comparison to see what progress we are making. I start by listing cash accounts, followed by investment accounts, retirement accounts and education savings accounts.
The Dow is back to 26,000 and the NASDAQ hit 8,000 for the first time ever. When markets hit new highs I get asked the same question, can it keep going higher or are we about to crash? If you're interested in what these new highs mean for you, keep reading.
Warren Buffett said, "Stop trying to predict the direction of the stock market, the economy or the elections." If you want to learn how you can build a stronger financial future by following his advice, keep reading.
The President speaks and the market moves. Day by day it seems like the message and the direction are changing all the time. The President's detractors see him as clueless and inconsistent. His supporters see him as negotiating and flexible.
Jake Carris Financial Planning is an Investment Adviser registered to the States of Florida and Pennsylvania. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions. Please contact us at (407) 489-1186 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions. Additionally, we recommend you compare any account reports from JCFP with the account statements from your Custodian. Please notify us if you do not receive statements from your Custodian on at least a quarterly basis. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, www.carrisfp.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.